Over the last decade, digital twins — virtual or digital representations of a physical object, system, or process in real-time — have been used for real-time data monitoring, simulations, predictive analytics, and collaboration.

However, while compelling, the rollout of the technology has at times been impacted by cost, scale, and complexity challenges  Fortunately, startups are taking an agile approach in areas such as climate risk forecasting, factory floor planning,  predictive precision medicine, and business process simulation, bringing new commercial opportunities.

Here are some of the companies to have on your radar:

Twinsity (Germany) 

Twinsity unleashes the value of drone inspection data. 

 Its platform,TWINSPECT, allows users to create photorealistic 3D models and perform AI-assisted damage analysis, enabling efficient and accurate inspections from anywhere at any time.

This improves communication, collaboration, and decision-making by enabling interactive access to detailed inspection data from anywhere, at any time. 

The company has raised €2.8 million in funding.

Slingshot Simulations (UK))

Slingshot Simulations has developed software that builds simulations of real-world objects, assets, and systems. 

Its low-cost Compass: Engine allows customers to rapidly visualise and analyse vast data sets and simulate scenarios to predict outcomes, enabling them to gain insights 80 per cent faster.

The tech has been utilised in a range of use cases including a project with the Department for Transport where by applying Compass: Engine™ to a city-scale project, researchers assessed the road-level impacts of potential low emission zone (LEZ) interventions on emissions and noise. The tool correlated these effects with nearby residential properties, particularly those with lower energy performance certificates (EPCs).  

The company has raised £5.3 million in funding. 

Open Space (UK)

Open Space has developed a people-centric digital twin platform that enables cities, transport providers, and retailers to use computer vision, AI, IoT, visualisation, and gaming technology to gain data-driven insights on their people flow challenges. 

Through real-time pedestrian simulation, predictive analytics, and synthetic built environments, it allows mobility hubs in spaces such as airports and train stations to better manage people flow, improve safety, and boost customer experience.

In 2019, OpenSpace came out of stealth to deploy the world’s first real-time synthetic built-environment at St Pancras mobility hub, where it continues to be in opetration.  

MYX (Bulgaria)

MYX develops software that allows users to create digital twins of various objects, such as telecom towers and entire cities, using data captured by drones and other imaging technologies. 

The company focuses on the telecommunications sector, particularly in the context of the 5G rollout, and aims to help companies make informed decisions by providing detailed digital insights into their assets.

Praedico (The Netherlands)

Praedico Rail centralises and structures data from rail systems to create a digital twin. By aggregating live, static, and spatial data, its platform provides a single source of truth to undertake smart asset management functions, enabling improved track availability, reduced track geometry defects, and reduced maintenance costs. 

Built by rail engineers, Praedico Rail provides railway asset management and maintenance intelligence across heavy haul, light rail, metro, and passenger rail networks.

Tomorrow Things (Germany)

Tomorrow Things is an intelligent automation platform that creates digital twins of technical assets.

 This allows them to optimise production lines, predict potential issues, and make informed decisions without impacting real-world operations. 

While open-source integration tools are already being used widely today, onboarding a machine’s interface is time-consuming, complex, and cost-intensive.

But with Tomorrow Things, these manual machine onboardings are being automated and standardised via machine blueprints – comparable to a fingerprint – used to build a digital twin with just one click. 

The blueprint technology supports plug-and-produce and drives interoperability within the entire ecosystem. It allows for seamless integration of third-party applications on top of digitalised assets.

The company has raised €1.5 million in funding.